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December 05, 2024
 

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CORPORATE GOVERNANCE

Pedestrians walk past the Financial Services Agency headquarters in Tokyo.
JAPAN
Aug 31, 2024
Over 2.5 million sets of info leaked from four Japan nonlife insurers
Of the total, employees on loan were found to have been involved in about 240,000 cases, including for contracts for corporate customers.
The government made it mandatory for companies to disclose their gender pay gap in 2022, but disclosure alone isn’t enough to improve the situation, data suggests.
BUSINESS / Companies
Aug 29, 2024
Disclosure rules fail to narrow Japan’s yawning gender pay gap
There has been little progress toward equality, with the highest-paying firms showing some of the biggest disparities.
Launched in 2012 in collaboration with the Tokyo Stock Exchange, the Nadeshiko Brand recognition aims to spotlight companies that not only prioritize gender diversity but also maintain solid financial performance.
BUSINESS / Companies
Aug 26, 2024
METI to expand Nadeshiko Brand criteria for women-friendly listed firms
Companies that offer support for women’s health in a bid to foster corporate awareness and encourage long-term career development for women will be eligible.
The opposite of diversity isn’t meritocracy, but homogeneity. And in organizations where everyone looks the same, standards tend to be lower.
COMMENTARY / World
Aug 23, 2024
‘DEI hires’ don’t lower the bar. They raise it.
Race and gender are not superficial characteristics that can or should be stripped away in order to prove someone’s merit.
A lithium battery factory following a deadly fire in Hwaseong, South Korea, on June 24
ASIA PACIFIC
Aug 23, 2024
Safety failures caused deadly fire at South Korea plant, police say
Twenty-three people were killed at an Aricell lithium battery plant in South Korea in a massive blaze in June.
Nissin Food Products' instant noodle products that were the subjects of a Fair Trade Commission antitrust warning on Thursday
JAPAN
Aug 23, 2024
Nissin gets antitrust warning over prices of instant noodles
"We take this warning seriously and will work on improvements to further strengthen our legal compliance system," the firm said.
Transport ministry officials enter the Kobe plant of Kawasaki Heavy Industries for an on-site inspection on Thursday.
JAPAN
Aug 22, 2024
Transport ministry raids Kawasaki Heavy over ship engine test tampering
The firm has admitted inappropriately tweaked testing equipment to keep emissions data within ranges of customer specifications and reduce the variance of data.
The departure of the head of Apple's App Store comes as the division is being split into two teams: one overseeing Apple’s own store and another responsible for alternative app distribution.
BUSINESS / Companies
Aug 22, 2024
Apple’s App Store head to leave in reorganization amid global scrutiny
Matt Fischer, a vice president who has run the App Store business since 2010, will leave the iPhone maker in October.
Alimentation Couche-Tard’s proposed acquisition of Seven & I Holdings, if successful, would be an extremely rare case of a foreign company's buyout of a major Japanese firm.
BUSINESS / Companies
Aug 20, 2024
Seven & I buyout would be a watershed moment for Japan takeovers
Until now, an attempt to acquire such a well-known Japanese business at such scale would have been dismissed as audacious and unlikely.
Wind turbines in Rokkasho, Aomori Prefecture
BUSINESS
Aug 19, 2024
Japan offers lifeline to ESG investing amid backlash overseas
In light of the anti-ESG sentiment in the U.S. and Europe, analysts said that Japan can play a key role in driving sustainable finance globally.
Activist funds added to their holdings during the Aug. 5 selloff in the Japanese stock market, an indication that they don’t mind taking significant risks to boost their stakes in target companies.
BUSINESS / Markets
Aug 19, 2024
Activists bought Japanese stocks during worst rout since 1987
Activists bought a total of 2.8 million shares during the Aug. 5 selloff, the most in at least 60 days.
Officials of JR Kyushu Jet Ferry bow at a news conference in Fukuoka on Wednesday.
JAPAN
Aug 14, 2024
JR Kyushu ferry unit found covering up leak problem
The jet ferry service has been suspended since Tuesday, seen affecting about 22,000 people in the middle of the Bon summer holiday season.
Former Kobayashi Pharmaceutical President Akihiro Kobayashi (second from right) speaks during a news conference in Osaka on Aug. 8 along with President Satoshi Yamane (third from right).
JAPAN / Society
Aug 14, 2024
Kobayashi Pharma fails to report 11 more suspected deaths
The 11 cases had been classified into a wrong category in the process of sorting out the inquiries made to its call center.
JPMorgan Asset Management (Japan) President Shoichi Okoshi speaks during an interview in Tokyo in July.
BUSINESS / Companies
Aug 14, 2024
JPMorgan wants a 30% female exec ratio in Japan
The Japanese affiliate of U.S. financial giant JPMorgan Chase plans to adopt the threshold within several years
Protesters for and against affirmative action demonstrate on Capitol Hill in Washington. As the backlash against diversity, equity and inclusion (DEI) has intensified in the U.S., the number of so-called anti-DEI proposals have multiplied.
BUSINESS / Companies
Aug 12, 2024
For anti-DEI groups swarming annual meetings, even a loss is a win
This year, prominent conservative investors filed 42 anti-DEI proposals, up from just one in 2021.
Former Kobayashi Pharmaceutical President Akihiro Kobayashi (right) and Satoshi Yamane, the new president, bow in apology over health problems caused by its beni kōji products, during a news conference in the city of Osaka on Thursday.
JAPAN / Science & Health
Aug 8, 2024
Kobayashi Pharma to withdraw from beni kōji product segment
The firm said it would offer compensation to those who suffered health problems linked to their products and prevent a recurrence of the incident.
Tokio Marine & Nichido Fire Insurance and three other insurance firms will be issued with cease-and-desist orders by the the Fair Trade Commission for forming a cartel, sources have said.
BUSINESS / Companies
Aug 6, 2024
Japan's FTC to issue orders to four major nonlife insurers in premium cartel
The insurers are said to have started prearranging premiums on contracts for Keisei Electric Railway, in which they shared the risk of covering payments, before 2020.
Itochu is buying back ¥150 billion worth of its own shares.
BUSINESS / Companies
Aug 6, 2024
Itochu to buy back shares and take full control of apparel and chemicals units
The deals are part of a trend of dissolving dual listings of parent and subsidiary companies to enhance corporate governance and improve operational efficiency.
Commuters take a subway home at Sungsu station in Seoul on July 15.
BUSINESS / Companies
Aug 6, 2024
Declaring ‘crisis,’ South Korean firms tell managers to work more
In South Korea, the five-day workweek is only a generation old, introduced by labor laws in 2004.
The Internal Affairs and Communications Ministry has said the 50-50 control of LY, the operator of the Line app, by SoftBank and Naver leaves the messaging app vulnerable to cyberattacks.
BUSINESS / Companies
Aug 4, 2024
SoftBank and Naver to sell down stake in Japan’s Line app
The tender comes as the capital structure of the operator of Japan’s biggest messaging app Line threatens to become a diplomatic flash point with South Korea.
South Korea's Yoon backs down after parliament rejects martial law
Soldiers try to enter the National Assembly building in Seoul, after South Korea President Yoon Suk Yeol declared martial law late Tuesday evening.
BOJ weighs case for first triple hike since Japan’s bubble burst
Bank of Japan Gov. Kazuo Ueda reiterated in an interview published Saturday that authorities will raise rates if the economy performs in line with projections.
Australian says romance scam tricked her into smuggling drugs into Japan
Donna Nelson says her life was turned upside down when she learned that the man she was falling for had tricked her into smuggling 2 kilograms of methamphetamine into Japan.
Jetstar Japan loses lawsuit over disciplinary action against cabin crew
Jetstar Japan has been ordered to pay back wages to two cabin crew members for the periods they were suspended.
Nomura CEO takes pay cut after former employee charged with attempted murder
Kentaro Okuda, CEO of Nomura Holdings, speaks during a news conference in Tokyo on Tuesday.
U.S. Space Force launches first unit in Japan
Activated on Wednesday, U.S. Space Forces Japan — a component similar to the one established at South Korea’s Osan Air Base in 2022 — will operate out of Yokota Air Base in the city of Fussa, western Tokyo, with a staff of about 10.
Can Japan's scientific community rebound from a Nobel nosedive?
The National Museum of Emerging Science and Innovation in Tokyo is a popular place to foster curiosity in the natural sciences.
Europe eyes 'boots on the ground' in Ukraine as possible peace deal option
A serviceman with the Ukrainian Army's 24th mechanized brigade fires a machine gun during an exercise, amid Russia's attack on Ukraine, in the country's Donetsk region on Friday.
Seven strangers and an algorithm: Can this new dinner app help you make friends?
Timeleft uses an algorithm to match its users with five or six strangers in an effort to prompt “human connection” over dinner at a restaurant. It determines the attendees with the help of a simple personality quiz available when you sign up for the service.
Don’t worry, you can still use your Japan health insurance card — for now
A My Number card reader at a pediatric clinic in Tokyo. While the government will stop issuing new health insurance cards on Monday, most people will remain unaffected by the move in the short term as existing health insurance cards can still be used for another year.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo’s Shinjuku Ward.
Kabukicho: Tokyo’s ‘stadium of desire’

Longform

The National Museum of Emerging Science and Innovation in Tokyo is a popular place to foster curiosity in the natural sciences.
Can Japan's scientific community rebound from a Nobel nosedive?
By Tomoko Otake

SUSTAINABLE JAPAN

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SWCC keeps changing with keyword ‘new challenges’

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